Call center AI market to reach $2.72Bn by 2027

NEW YORK, UNITED STATES — The call center AI market is poised to reach $2.72 billion by 2027, experiencing a compound annual growth rate (CAGR) of 22.4% between 2023 to 2027.

According to a new report by Technavio, the growth will be driven by the rising adoption of cloud-based call centers, which enable businesses to utilize AI services through a subscription model and integrate them with third-party applications using APIs.

Key growth factors also include omnichannel capabilities and seamless legacy system integration that cloud platforms provide. 

However, Technavio stated that the market could still struggle to align the knowledge of human agents and AI bots. Still, providers like Airtel have automated 84% of calls with AI, demonstrating its immense potential.

The banking, financial services, and insurance (BFSI) industry is set to lead AI adoption for enhanced mobile apps. 

Region-wise, North America is expected to dominate the market with a 37% share owing to its tech-savvy culture.